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Disney increases its income in the first quarter of 2022
Subscriptions to the Disney+ streaming platform help increase the company's income and its economic recovery after the pandemic
In the first quarter, Disney increased its profit to 1,104 million dollars (966 million euros), in its first fiscal quarter, due to its significant increase in billing.
After the Covid-19 pandemic, its attractions were affected. However, little by little it was promoted and this was mainly the cause of the recovery of the business.
The year before, the entertainment giant had a net profit of $17 million. This year was one of recovery after having to close in a pandemic.
Disney issued a statement in which it notifies that between October and December, its first fiscal quarter of 2022, they obtained an income of 21,819 million dollars. This was 34% more than in the previous year period.
The Distribution of Entertainment and Media, gave it a turnover of 15% and the Parks, Products and Experiences, obtained a double income compared to the same period of the previous year.
Hotels, Disney cruises, amusement parks, have increased the number of clients and have also spent more money than they usually spend on visits, after the Covid-19 restrictions have eased.
Bob Chapek, CEO, published a note in which he reports that the beginning of the fiscal year was very strong. He added that there was a significant increase in resorts in the United States, billing records, operating income in parks and in profits.
He also assured that the significant rise in total subscribers to the streaming service and the premiere of the "Encanto" franchise reached 196.4 million.
During the last quarter, Disney + has had an increase of 11.8 million subscribers. In total, the platform has 129.8 million members, surpassing analyst statistics.
Two years ago the platform was launched to compete with Netflix. In 2021, it gained 35 million users and in this way Disney was able to maintain itself.
After these results, its shares increased 3% at the close of Wall Street, which corresponds to 152.14 dollars.
